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May 29 - 06:12 PM

EUR/USD - Budget Proposals Reverberate, Charts Target 1.1150

By Andrew M Spencer  —  May 28 - 07:30 PM
  • Flat after closing up 0.6%, as the market responds to the budget package

  • Pimco are sceptical on the package being a game changer nL8N2DA4PF

  • EU's Barnier tells Britain not to cherry pick in Brexit talks nL8N2DA5ZM

  • Charts - momentum studies, 5, 10 & 21 DMAs head north - positive setup

  • 1.0974 rising upper 21 day Bolli a good indicator of an overbought market

  • 21 day Bollinger suggests buying dips not breaks at these levels

  • Move targets 1.1148-1.1166, late march high and 61.8% of the March fall

  • 1.1011 200 DMA and NY 1.1094 high initial support-resistance

eur may 29 Click here

Source:
Refinitiv IFR Research/Market Commentary

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